Tata steel has good support at 384 levels as marked in the circles; it is also a old gap support. Recently the stock has been in a contracting downward channel (might be a flag formation after a long upmove). Key resistances are in the area of 420-440.
Taking all time high and October lows of the stock
23.6% retracement comes in at 356 and 38% retracement at 476
Now taking the intermediate ratios between 356 and 476
23% retracement is at 384 and 38% retracement is at 416-418
Might be a good idea to buy the stock as close as possible to 385 and keeping a SL of a close or two below 385 or 350 (depending on ones risk appetite) or may be buy on a break out of 420
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